Confluent, Inc. (NASDAQ:CFLT) Insider Erica Schultz Sells 9,467 Shares

Confluent, Inc. (NASDAQ:CFLT) insider Erica Schultz sold 9,467 shares of the company’s stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $28.23, for a total transaction of $267,253.41. Following the transaction, the insider now owns 678,016 shares of the company’s stock, valued at $19,140,391.68. This represents a 1.38 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

Erica Schultz also recently made the following trade(s):

• On Monday, November 18th, Erica Schultz sold 63,729 shares of Confluent stock. The shares were sold at an average price of $27.40, for a total transaction of $1,746,174.60.

Confluent Trading Up 3.0 %

Confluent stock opened at $31.52 on Friday. The company has a quick ratio of 4.24, a current ratio of 4.24 and a debt-to-equity ratio of 1.17. Confluent, Inc. has a 12 month low of $17.79 and a 12 month high of $35.07. The business has a 50 day moving average price of $23.35 and a two-hundred day moving average price of $24.64.

Confluent (NASDAQ:CFLT) last posted its quarterly earnings results on Wednesday, October 30th. The company reported ($0.21) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.24) by $0.03. The firm had revenue of $250.20 million during the quarter, compared to analyst estimates of $243.98 million. Confluent had a negative net margin of 38.35% and a negative return on equity of 34.05%. Equities research analysts predict that Confluent, Inc. will post -0.9 earnings per share for the current year.

Institutional Investors Weigh In On Confluent

Large investors have recently made changes to their positions in the company. V Square Quantitative Management LLC acquired a new stake in shares of Confluent during the second quarter worth approximately $68,000. UniSuper Management Pty Ltd increased its holdings in Confluent by 125.0% during the 1st quarter. UniSuper Management Pty Ltd now owns 2,700 shares of the company’s stock valued at $82,000 after purchasing an additional 1,500 shares in the last quarter. Advisors Asset Management Inc. raised its position in Confluent by 40.3% in the 1st quarter. Advisors Asset Management Inc. now owns 2,991 shares of the company’s stock valued at $91,000 after purchasing an additional 859 shares during the last quarter. Point72 Hong Kong Ltd acquired a new position in Confluent in the third quarter worth $68,000. Finally, Lazard Asset Management LLC increased its stake in shares of Confluent by 25.5% in the first quarter. Lazard Asset Management LLC now owns 5,747 shares of the company’s stock valued at $175,000 after buying an additional 1,167 shares in the last quarter. Institutional investors own 78.09% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on CFLT. UBS Group boosted their price target on Confluent from $23.00 to $26.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. Evercore ISI cut their price objective on Confluent from $33.00 to $28.00 and set an “outperform” rating for the company in a research report on Friday, September 20th. Citigroup boosted their price target on shares of Confluent from $24.00 to $25.00 and gave the company a “neutral” rating in a report on Tuesday, October 29th. Piper Sandler lowered their target price on Confluent from $37.00 to $32.00 and set an “overweight” rating on the stock in a research note on Thursday, August 1st. Finally, JMP Securities reiterated a “market outperform” rating and set a $40.00 price objective on shares of Confluent in a report on Tuesday, October 29th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $30.88.

Confluent Company Profile

Confluent, Inc operates a data streaming platform in the United States and internationally. The company provides platforms that allow customers to connect their applications, systems, and data layers, such as Confluent Cloud, a managed cloud-native software-as-a-service; and Confluent Platform, an enterprise-grade self-managed software.